Financing ·
NNN REIT, Inc. exercised a $200 million incremental term loan option, increasing its aggregate term loan facility size…
NNNNnn REIT, Inc.
NNN REIT, Inc. exercised a $200 million incremental term loan option, increasing its aggregate term loan facility size to $500 million, with a maturity date of February 15, 2029. The company also amended its revolving credit facility to lower its SOFR-based margin to 0.800% for term loan borrowings and 0.725% for all outstanding revolving credit facility borrowings. To hedge interest rate risk, the company entered into a $100 million forward starting swap to fix SOFR at 3.43% through February 15, 2029. NNN REIT, Inc. is a real estate investment trust (itself a company that manages and owns property).